On March 31, 2011, USAC submitted their Semi-Annual Audit Report to the FCC for their review.
The SLD is required by the Fifth Report and Order to submit a semi-annual report to the FCC summarizing the status of all outstanding audit findings. The report details the process the SLD goes through in order to recover E-rate funds that should not have been committed in the first place. The report also provides a summary of audits that may lead to the recovery of already committed funds.
The report shows as of February 28, 2011, USAC has conducted a total of 1,107 audits with a total audited amount of $2,897,618,724.00. USAC has recovered over $325 million to date.
According to the recently released 2010 USAC Annual Report, KPMG, Ernst & Young, and Deloitte & Touche have been hired to conduct USF related audits and oversight.
Continue to check www.fundsforlearning.com for the latest E-rate news and analysis.
